Skip to main content
M
mdj101
February 13, 2019
Question

Recording Equipment Purchases

  • February 13, 2019
  • 1 reply
  • 0 views

Hi All.

 

If I buy some equipment for the business, in this instance some LED site lights from screwfix.

 

What do I record them under? A purchase / expense or a fixed asset?

1 reply

A
AldrinS
February 13, 2019

Good day, mdj101.

 

I'm by no means an accounting professional, but I do have some insight provide that may help get you on the right track.

 

You could record them as Fixed assets, especially if won't likely be converted to cash quickly. However, please be sure to reach out to an accounting consultant to ensure this method is the best suit for your business. With Intuit's Find-A-ProAdvisor site, you can search for certified professionals in proximity to your ZIP code that can discuss options more personal to your business's needs.

 

Let me know if there's anything else I can do to help you succeed with QuickBooks. Thanks for reaching out, wishing you all the best!

Terms & ConditionsAccessibility statement